An American Firm Is Seeking to Increase Clean Hydrogen Production

The business Ohmium claims to have received $250 million in funding to expand its manufacturing of devices that produce hydrogen for use in energy. Ohmium is a Nevada-based corporation with locations in India and Silicon Valley, California. It produces devices known as electrolyzers, which split water into oxygen and hydrogen. Environmentalists claim that hydrogen is a clean energy source that may eventually replace fossil fuels like coal, oil, and gas.

 

Heading the Hydrogen Council, a Brussels, Belgium-based organization of business executives that promote hydrogen, is Daryl Wilson. Wilson stated that a company focused on generating hydrogen from water could not have raised several hundred million dollars just four or five years ago. However, he noted that demand for it is currently growing quickly. Mark Viehman works for the Paris-based consulting firm Capgemini as an expert in hydrogen and sustainable fuels. According to its most recent research, 64% of utility and energy corporations intend to invest in low-carbon hydrogen projects by 2030, he said.

 

Head of Ohmium is Arne Ballantine. According to him, the business will spend the $250 million to expand employment, continue research in California, and upgrade its Indian manufacturing. There are now 400 employees at the company. Ballantine stated that he intends to manufacture enough hydrogen annually from his electrolyzers to provide two gigawatts of power. That would power a few steel or fertilizer factories, he claimed. Governments and corporations declare their intention to use hydrogen to reduce the amount of carbon dioxide released during manufacturing. Companies that manufacture clean, or green, hydrogen can take advantage of tax credits and other incentives provided by the United States, the European Union, Canada, and India.

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